Westminster Group cheers contract wins from CTAC subsidiary
CTAC, the ‘high end’ security business acquired by AIM listed Westminster Group Plc (LON:WSG) two weeks ago for £1.8 million, has just pulled in two new contracts together worth £1.02 million. The new agreements involve the provision of high security products and services to bullion storage depots in the UK and are scheduled to complete during 2010.
Peter Fowler, the chief executive of Westminster, said: “At the time of our acquisition I stated that I believed the company was at an exciting stage with tremendous growth prospects and was an excellent fit for our business. It is indeed pleasing to be able to issue significant contract news so soon after that statement.”
Yesterday, Westminster published its results for the year to December 31, 2009, which showed a 45% rise in sales to £7.9 million and a swing to an underlying profit of £217,000 from a loss the previous year of £47,000.
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Westminster Group Plc is a United Kingdom-based company. The Company’s principal activity is the design, supply and ongoing support of advanced technology fire, safety, security and defense solutions to government and government agencies, non-government organizations and blue chip commercial organizations worldwide. The Company operates in five divisions: Westminster International Ltd, Longmoor Security Ltd, RMS Integrated Solutions Ltd, CTAC Ltd and International Monitoring Services Ltd. The Company operated through a network of agents located in 46 countries at 31 December 2011. Its subsidiaries include Westminster International Limited, RMS Integrated Solutions Limited, Longmoor Security Limited, CTAC Limited and Westminster Aviation Security Services Limited. In March 2013, the Company disposed two subsidiaries MS Integrated Systems Limited including CTAC (RMS) and International Monitoring Services Limited (IMS). more »
